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Gloucestershire Infrastructure Investment Fund (GIIF)

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Gloucestershire Infrastructure Investment Fund (GIIF) Gloucestershire Infrastructure Investment Fund (GIIF) Frequently Asked Questions How do I submit details of a potential project or scheme? Answer: Any interested parties will need to complete and submit an initial ‘Expression of Interest’ template, which can be found on the Gloucestershire LEP website. Further background information about the fund and how to complete the expression of interest can be found in the promotional guidance note also available on the website. www.gfirstlep.com Will I need to make contact with or seek support from the relevant Local Authority? Answer: We would clearly advise applicants to establish contact with the relevant Local Authority on any potential project. Early discussions will allow the Local Authority and the applicant to identify any necessary consents (planning etc) that are required, if they are not already in place. Contacts for each local authority can be found below. What schemes may be eligible for the fund? Capital funding is available to tackle identified infrastructure constraints or barriers on sites with potential to unlock growth and generate economic benefit/output. Therefore, a range of capital projects that will unlock schemes for housing, jobs or other small scale infrastructure provision such as highways and utility requirements, are eligible for the fund. However, it should be noted that funds will need to be repaid and that this is not ‘gap funding’, as viability will be a key consideration within the formal project appraisal process Is there any scope for grant money being available? No - Investment will be in the form of an interest free loan. The LEP intends to use the funding as a revolving fund, such that it will be available to support further projects in the future. However, the Programme Management Team will advise about any additional or alternative sources of funding, as appropriate 1 Version 5 – updated 01 September 2017 Gloucestershire Infrastructure Investment Fund (GIIF) How will the loan be repaid and what is meant by the term ‘payback’? The funding is intended to establish a long term infrastructure fund for the county. All schemes will have a repayment mechanism so that the Gloucestershire LEP will be able recycle the funds and make further investments in infrastructure, vital to support sustainable growth in Gloucestershire. We will be working with the successful applicants to identify the best ways to pay for the infrastructure works and identify the repayment mechanisms, as part of the business case development process. Will there be any interest rate charges or administration charges for potential applicants? Answer: We do not intend to apply any interest charge against any loan award. However, we will make an administration charge to any successful projects that are awarded funding to cover the application processing costs. Details of the arrangement fee terms can be supplied to applicants on request. What are the priorities/criteria and how will the LEP decide which proposals will be included for consideration? Answer: There are a number of qualifying criteria that will need to be met as part of the consideration for funding. Details of the qualifying criteria are set out in the promotional guidance note provided. When do applicants need to submit their Expressions of Interest for funding by? The LEP is keen to identify a pipeline of potential projects for inclusion in a Strategic Infrastructure Investment portfolio that could be worked up and considered for future funding opportunities. There is no deadline for submitting an Expression of Interest. For the latest information on timescales and available funds please contact the Programme Management Team based within Gloucestershire County Council which is providing programme management support to the scheme – contact details below. 2 Version 5 – updated 01 September 2017 Gloucestershire Infrastructure Investment Fund (GIFF) What are the next steps after the Expression of Interest has been submitted? Answer: Expressions of Interest will be assessed and shortlisted against the qualifying criteria by the Programme Management Team. Potential projects will be considered by the Investment Panel and LEP Board in order to identify candidates to be supported on through the business case development and assessment process. Applicants will be informed as to whether they are being invited to progress and work up their proposal in more detail. Are there likely to be further rounds for funding? Answer: Gloucestershire LEP wishes to establish and build up a longer term strategic portfolio programme approach of sites and potential projects. One of the aims of the Expression of Interest process is to assess the current demand for this type of funding and learn from the experience. Criteria and priorities of future funding rounds will be informed by the interest generated. Therefore, the LEP intends to make further funds available to support economic growth. Will I be able to understand how the LEP Board makes its decisions, and will I receive feedback if I am unsuccessful? Answer: The LEP Board wishes to ensure it takes a transparent and strategic approach to the allocation and award of funding and has adopted clear appraisal criteria for the decision making process, for the Investment Panel to use in its recommendations to the Board. Any unsuccessful applicants, at either the EOI or full business case development stage, will be given feedback by the Programme Management Team. How will further updates and future rounds be communicated? Answer: Regular updates will be available on the Gloucestershire LEP website. We will also make full use of our existing LEP governance structure to cascade information through our networks to all public and private sector parties to ensure they are kept informed. 3 Version 5 – updated 01 September 2017 Gloucestershire Infrastructure Investment Fund (GIIF) Does the LEP have capacity and resource to manage the £8.4m fund? Answer: The Growing Places prospectus and agreement we have in place with the Department for Communities and Local Government (DCLG), confirms that the funding has been awarded to the Gloucestershire LEP (GFirst) and that Gloucestershire County Council is the fund holder and will act as the ‘accountable body’, as a valuable delivery partner and lead stakeholder. GIIF Scheme Contacts The Economic Growth & Strategic Planning team within Gloucestershire County Council is providing programme management support to the scheme on behalf of the GFirst Local Enterprise Partnership. [email protected]. Local Authority Contacts: Local Authority Contact Contact Details Cheltenham Borough Tracey Crews, Director of E: [email protected] Council Planning T: 01242 774405 Cotswold District Philippa Lowe, Group E: [email protected]> Council Manager T: 01285 623000 Forest of Dean Nigel Gibbons - Forward Plan E: [email protected] District Manager T: 01594 812338 Gloucester City Ian Edwards – Head of Place E: [email protected] Council T: 01452 396034 Tewkesbury Borough Annette Roberts, Head of E: [email protected] Council Development Services T: 01684 295010 Stroud District Barry Wyatt, Director of E: [email protected] Council Development Services T: 01453 754210 Version 6 – updated August 2019 4 Version 5 – updated 01 September 2017 .
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